Thursday, April 17, 2014

IKN vs Mickeyman on the gold poll

the news just out from Kitco that its band of self-appointed experts on the gold price has turned collectively bearish on the price of gold next week is good news indeed for those of us looking for higher gold prices.

But Mickeyman had a better take on the Kitco gold price poll:

World Complex - you too can be a gold expert, where he notes that the Kitco gold price poll actually correlates pretty darn well (looks like r>.5 to me) with the previous week's price action in gold:

So what Kitco's poll is actually saying is that the price of gold went down this week.